Brookfield (NYSE:BN) Price Target Raised to $59.00 at TD Securities

Brookfield (NYSE:BN) had its price objective lifted by TD Securities from $57.00 to $59.00 in a research report report published on Friday morning,Benzinga reports. TD Securities currently has a buy rating on the stock.

A number of other research analysts have also recently commented on BN. National Bankshares set a $54.67 price target on shares of Brookfield and gave the stock an “outperform” rating in a research note on Tuesday, July 29th. Zacks Research lowered shares of Brookfield from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Weiss Ratings reissued a “hold (c-)” rating on shares of Brookfield in a report on Wednesday, October 8th. Wall Street Zen raised Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, The Goldman Sachs Group started coverage on Brookfield in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $52.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $53.47.

Brookfield Stock Up 0.3%

Shares of Brookfield stock opened at $43.89 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.18 and a debt-to-equity ratio of 1.50. Brookfield has a twelve month low of $29.07 and a twelve month high of $49.47. The company has a fifty day moving average price of $45.67 and a 200 day moving average price of $42.82. The stock has a market cap of $108.63 billion, a price-to-earnings ratio of 153.12 and a beta of 1.73.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, December 16th. Brookfield’s dividend payout ratio (DPR) is 82.76%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. AGF Management Ltd. increased its position in Brookfield by 7.2% in the second quarter. AGF Management Ltd. now owns 2,438,241 shares of the company’s stock worth $151,399,000 after buying an additional 164,124 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of Brookfield by 13.5% in the first quarter. Chicago Partners Investment Group LLC now owns 290,942 shares of the company’s stock worth $16,261,000 after purchasing an additional 34,573 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. raised its position in shares of Brookfield by 2.7% in the second quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,592,795 shares of the company’s stock valued at $98,643,000 after purchasing an additional 42,520 shares during the period. C WorldWide Group Holding A S boosted its holdings in Brookfield by 96.3% in the 2nd quarter. C WorldWide Group Holding A S now owns 45,515 shares of the company’s stock worth $2,815,000 after buying an additional 22,331 shares during the period. Finally, PCJ Investment Counsel Ltd. grew its position in shares of Brookfield by 18.8% in the second quarter. PCJ Investment Counsel Ltd. now owns 110,740 shares of the company’s stock valued at $6,858,000 after purchasing an additional 17,510 shares in the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

About Brookfield

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.